We use cookies to deliver our online services. Details of the cookies we use and instructions on how to disable them are set out in our Cookies Policy. By using this website you agree to our use of cookies. To close this message click close.

Hogan Lovells Advises On Two Significant Block Trade Transactions

06 September 2013

HONG KONG, 6 September 2013 – Hogan Lovells has successfully closed two block trade transactions today for a combined value of over HK$2.4 billion.

On the first transaction Hogan Lovells advised UBS AG as the sole placing agent in respect of a placement of 52,392,000 new H-shares in Tong Ren Tang Technologies Co. Ltd. ("Tong Ren Tang"), raising approximately HK$1.205 billion (US$154 million).  Tong Ren Tang is a leading Chinese pharmaceutical company engaged in the production and distribution of Chinese medicines.

In addition, the team advised CLSA Limited and CITIC Securities Corporate Finance (HK) Limited as the joint placing agents in respect of a placement of 180,000,000 existing shares in Xinyi Glass Holdings Limited ("Xinyi Glass") by the controlling shareholders, raising approximately HK$1.206 billion (US$155 million), and the issue of 120,000,000 new shares in Xinyi Glass to one of the selling controlling shareholders.  Xinyi Glass is a leading Chinese glass company engaged in the production of float glass, automobile glass and construction glass products.

Both Tong Ren Tang and Xinyi Glass are listed companies on the Hong Kong Stock Exchange. 

The Hogan Lovells team advising on both transactions was led by Hong Kong partners Terence Lau and Thomas Tarala, supported by consultant Nelson Tang, senior associate Donald Fung and associate Priscilla Lee.

Loading data